“It is too early to conclude that the markets are turning in favour of investors,” Valentis Advisors’ Fund Manager Daljeet Singh Kohli said as Indian equity benchmark extended gains.

“The recovery in market is good. However, it is difficult to say that the movement has turned the tide at present. There are a lot of structural and fundamental changes required as markets are ultimately ‘the slave’ of earnings,” Kohli told BloombergQuint in an interaction.

Kohli foresees more earnings pain in September quarter than what was witnessed in the previous quarter.

The Nifty is expected to touch 11,100-11,180 soon, considering the Monday’s move in the broader markets, according to Angel Broking.

“The immediate supports for the index are placed around 10,950 and 10,880 in the downside,” the homegrown research firm said in a note today.

The 500-share index extended gains for the fourth consecutive trading session. It had ended 0.58 percent higher on Monday.

Traders are advised to trade with a positive bias and look to pick stocks from the mid-cap space which are likely to provide outperformance in the short term.

Angel Broking Research Report

The market breadth was tilted in favour of buyers. About 1,337 stocks advanced and 472 shares declined on National Stock Exchange.

Eight out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty Realty index’s 4 percent advance. On the flipside, the NSE Nifty IT Index was the top sectoral loser, down 1.4 percent.

It is too early to comment that the markets are turning in favour of investors, Valentis Advisors’ Fund Manager Daljeet Singh Kohli said as Indian equity benchmark extended gains.

“The recovery in market is good. However, it is difficult to say that the movement has turned the tide at present. There are a lot of structural and fundamental changes required as markets are ultimately ‘the slave’ of earnings,” Kohli told BloombergQuint in an interaction.

Kohli foresees more earnings pain in September quarter than what was witnessed in the previous quarter.

Market Check: Sensex, Nifty Extend Gaining Streak

Indian equity benchmark NSE Nifty 50 is set to extend gains for the fifth consecutive trading session.

The 50-stock index rose 0.35 percent to 11,041 as of 3 p.m.

Besides, The S&P BSE Sensex is set to extend gains for for the third consecutive trading session and rose 0.45 percent to 37,312. The broader markets represented by the NSE Nifty 500 Index rose 0.54 percent.

09:22 AM

Fab Four Stocks Of The Day

Meghmani Organics

Stock rose as much as 9.7 percent to Rs 56.

Company plans to set up project for Epichlorohydrin with capacity of 50,000 TPA at a capex of Rs 275 crore and is expected to generate a revenue of Rs 460 crore.

At present, the product in imported entirely for domestic consumption

Jindal Steel & Power

Stock rose as much as 11.2 percent to Rs 106.15.

“The company has orders to manufacture more than 3.5 lakh tonnes of railway tracks. The business amounts to about a quarter of Indian Railways’ planned purchase in the current financial year,” Bloomberg reported quoting JSPL’s Managing Director VR Sharma.